Tag Archive: chinese currency

RISE OF THE RENMINBI

According to a recent article from The Street.com, “The most important economic issue over the next decade will be the rising position of the Chinese currency, the renminbi, in the foreign exchange markets.” While current global financial reserves are dominated by the dollar, euro, yen and British pound, there is a significant shift taking place right now. A shift that could dramatically change the global reserve market and the dollar’s status as the reserve currency of choice. The central banks that issue these currencies have,... Continue Reading

Chinese Yuan May Get Reserve Currency Status This Year

The Chinese yuan has been gaining traction and acceptance among global currency markets. As the Chinese economy continues to grow, China will seek to continue to forge its place among leadership in the global financial marketplace. According to a report today by BBC News, the yuan could get reserve status this year… This is huge. This is another step towards the yuan becoming the global reserve currency of choice. When the International Monetary Fund this week stated that it does not consider the yuan to... Continue Reading